BEIJING -- China says it will cut tariffs on passenger cars to 15% from 25%, moving to ease trade tensions with a U.S. government eager to reduce its trade deficit with the Asian economic powerhouse.
The new tariff schedule, announced Tuesday, will take effect July 1. A duty on trucks and other autos will also fall to 15% from 20%, while parts will face a uniform 6% tariff, down from current rates between 8% and 25%.
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